NEFIN secures major solar project in Malaysia

The solar farm in Teluk Intan is set to offset thousands of tons of CO2 emissions annually.

APAC power producer NEFIN Group has recently announced its involvement in a solar farm project in Teluk Intan, Perak, Malaysia, costing approximately RM130 million and is expected to generate 60,750 MWh of clean energy annually.

The initiative, part of the Corporate Green Power Programme (CGPP) led by the Energy Commission (Suruhanjaya Tenaga), signifies a major step forward in the region's commitment to sustainable energy production. 

Glenn Lim, CEO of NEFIN, said that there was a 40% increase in revenue and the securing of significant capacity expansions across the region. "We managed to secure substantial capacity across Pan-Asia. And the projects, which we expect to begin construction this year, will be enough of over 100 megawatt," Lim stated.

The solar farm project in Teluk Intan is poised to become a cornerstone of NEFIN's portfolio. Costing approximately RM130 million, the 29.99 MW AC capacity solar power plant is expected to generate 60,750 MWh of clean energy annually, potentially offsetting 47,385 tons of CO2 emissions.

Lim said that the project has already attracted attention from global giants, including a high-tech firm and a global snacking corporation, both Fortune 500 companies, signalling a strong market demand for renewable energy solutions.

"This project has come a long way, started working with us with Intel back in 2016," Lim recounted. The CEO credited Malaysia's new leadership for enabling policies such as the virtual Power Purchase Agreement (PPA), allowing companies to procure green power in innovative ways and supporting their carbon neutrality objectives.

Looking ahead to 2024 and beyond, Lim outlined NEFIN's ambitious expansion plans across Asia, with a particular focus on North Asia and ASEAN growth markets, including Thailand, Vietnam, Malaysia, and the Philippines. 

"All in all, we expect to connect 667 megawatts over the next three years," Lim revealed, underscoring the company's strategic vision for scaling up its green energy footprint.